✍️ Are you late to enter the world of cryptocurrencies?
In fact, I have never seen a financial product being promoted in such an intense manner. Sometimes, within cryptocurrency communities, you may be attacked just for expressing a negative opinion or questioning the market. The reason is simple: if new investors do not join the scene, prices will not continue to rise.
The economic system that cryptocurrencies are based on, especially in trading, is one of the strangest models I have come across. It encourages attracting more participants in various ways, such as discounts, or incentivizing repeated trading through rewards. Take, for example, some platforms like "Simsim"; they launch weekly trading campaigns and offer discount coupons or rewards when new coins are listed. But these offers do not hide the fact that trading fees are high, even for the simplest transactions.
If you want to sell an altcoin worth $1,000 using a short sale, you will pay fees that could reach one-thousandth per trading round. And if you add leverage, those fees can quickly escalate. It is true that some praise this model and describe it as a financial revolution, but from my perspective, I still see it as a bubble. It may grow and inflate for a while, but no one knows when it might burst and return to zero.